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SG Spirit Gold Changes Date for Special Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2012) - SG Spirit Gold Inc. (TSX VENTURE:SG) ("SG Spirit Gold" or the "Company") announces that the Company is moving the date of the special meeting of shareholders of SG Spirit Gold ("Special Meeting") from March 14th, 2012 to March 26th, 2012 at 10.00 a.m. (Pacific Standard Time). The date of the Special Meeting has been moved to a later date in order to allow more time for regulatory review and approval of the information circular prior to mailing to shareholders. The Special Meeting is to consider the approval of the proposed transaction to acquire 100% ownership of the Buchans and Tulks North properties from Buchans Minerals Corporation and a 100% interest in the Bobby's Pond base metals deposit from Mountain Lake Resources Inc. A notice of Special Meeting, joint information circular of SG Spirit Gold and Buchans Minerals and proxy materials will be mailed to SG Spirit Gold shareholders in connection with the Special Meeting. Buchans Minerals Corporation will also be moving the date of its special shareholder meeting to vote for the approval of the Transaction to March 26th, 2012. Further details regarding the proposed transaction are contained in the Company's news releases dated December 13, 2011, January 26, 2012 and February 6, 2012.

About SG Spirit Gold:

SG Spirit Gold is a Vancouver based resource company in the business of acquiring and advancing Canadian mineral properties prospective for precious metals and base metals. The Company's management team and Board have extensive experience and success in the resource industry. Upon completion of the Transaction, the Company intends to change its name to Regiment Zinc Corp. to properly reflect its base metal focus.

SG Spirit Gold is led by Forbes West, in association with Forbes & Manhattan. Forbes West, formerly known as the Exploration Group, is a Vancouver-based mining services company established by Mr. Mark Morabito. Forbes West provides administrative, management, geological, regulatory, tax, corporate development and investor relations services to mining companies throughout North America. Forbes West specializes in identifying, funding, developing and managing resource-based opportunities, with a special interest on the junior mining sector. With an office that is fully Sarbanes-Oxley compliant, Forbes West is vertically integrated with in-house geology, legal and corporate finance departments. Forbes West is focused on enhancing value to its growing portfolio of noteworthy public mining companies including SG Spirit Gold Inc., Alderon Iron Ore Corp., Crosshair Energy Corporation, Excelsior Mining Corp, Logan Resources Ltd. and Ridgemont Iron Ore Corp.

ON BEHALF OF THE SG BOARD

Adrian Bray, President & CEO

Cautionary Note Regarding Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the transaction, the terms of the Offering and the potential of the properties are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; requirement to obtain shareholder approval; failure to execute the Definitive Agreements; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and SG Spirit Gold Inc. undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and no securities regulatory authority has either approved or disapproved of the contents of this release.